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ACC - Branson Designers

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solution


Question

Question;"on January 1, 2010 Branson Designers issued $900 million of its 8% bonds $836 million. The bonds were then prices to yield 10%. The interest will be payable on June 30 and December 31. Branson records interest using the effective interest method to document the interest paid and discount amortization. Prepare the journal entry to record the interest to June 30,2010. Prepare the journal entry to record the interest on December 31, 2010.".

 

Paper#39937 | Written in 18-Jul-2015

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